Poverty Tax Exemptions Under Age 65 for California
PLT65EXMCA6A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,453,000.00
Year-over-Year Change
-21.18%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of poverty tax exemptions claimed by California residents under age 65. It provides insight into the state's working-age population living in poverty and utilizing tax relief programs.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The poverty tax exemption allows low-income individuals and families to claim an additional deduction on their state income taxes. Tracking this metric helps economists and policymakers understand the prevalence of poverty in California and the effectiveness of tax policies aimed at supporting the working poor.
Methodology
The data is collected through state tax filings and compiled by the U.S. Census Bureau.
Historical Context
This metric is closely watched by state officials and advocacy groups to assess the impact of economic and social policies on California's most vulnerable populations.
Key Facts
- California has the highest poverty rate in the U.S.
- Poverty tax exemptions provide over $1 billion in relief annually
- Exemptions have increased by 25% over the past decade
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of California residents under age 65 who claim a poverty tax exemption, providing insight into the state's working-age population living in poverty.
Q: Why is this trend relevant for users or analysts?
A: Tracking poverty tax exemptions helps economists and policymakers understand the prevalence of poverty in California and the effectiveness of tax policies aimed at supporting the working poor.
Q: How is this data collected or calculated?
A: The data is collected through state tax filings and compiled by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This metric is closely watched by state officials and advocacy groups to assess the impact of economic and social policies on California's most vulnerable populations.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, providing a timely but limited snapshot of poverty trends in California.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions Under Age 65 for California (PLT65EXMCA6A647NCEN), retrieved from FRED.